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EMU: M3 Money Supply up 3% in March

FXstreet.com (Barcelona) - The Eurozone M3 Money Supply increased 3% in the three months to March, following a 3.4% rise in the three months to February, according to the ECB official data.

On an annual basis M3 Money supply grew 2.6% in March, down from the 3.1% rise registered the previous month and below forecasts of a 3% increase.

Year-over-year Private loans fell 0.8%, after dropping 0.8%, as expected.

Forex Flash: EUR/USD to fail towards 1.2839, initial resistance at 1.3132 – Commerzbank

The small rebound has been fairly tepid and “we view this as a minor rebound from the 1.2949 200 day MA”, wrote Karen Jones. “We should see failure shortly and a slide to 1.2839, the 78.6% retracement of the move up in April. This is the last defense for the 1.2740 recent low”, added the Commerzbank analyst, pointing to key support at 1.2679/61 (61.8% Fibonacci retracement of the July-to-January rise and the November 2012 low) and viewing the recent failure ahead of the 1.3225/50% retracement as an interim peak, with initial resistance at 1.3132.
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Forex: USD/CHF trading negatively at 0.9436/37

The USD/CHF has been devoid of any sweeping movements Friday, instead clinging to negative territory, most recently on the heels of economic data in the EMU. Following the SNB speech, the pair is now trading at 0.9436/37, down -0.11% during European trading.
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